The Swiss Times - Swiss News in English

Still SNB President Jordan earns less in 2023

The President of the Swiss National Bank, Thomas Jordan, received a slightly lower salary last year. His total remuneration amounted to CHF 0.982 million. That is CHF 54,000 less than in the previous year.

Including social security contributions, the SNB Chairman's salary amounted to CHF 1.294 million, according to the annual report published on Tuesday. As is known, Jordan will step down from his post in September 2024. He has worked at the SNB since 1997 and led the National Bank through the discontinuation of the minimum exchange rate against the euro in 2015 and the Credit Suisse crisis last year.

Martin Schlegel, who has held the office of Vice Chairman since August 2022 and replaced Fritz Zurbrügg, received the same basic compensation of CHF 0.98 million as Jordan (CHF 1.256 million with social contributions).

At the end of June 2023, Governing Board member Andréa Maechler also stepped down. She received total remuneration of CHF 0.839 million, including social security contributions, for her six months at the SNB. Maechler then moved to the Bank for International Settlements (BIS) in Basel.

Maechler's successor is Antoine Martin. However, he only took over the management of Department III of the SNB, which is mainly based in Zurich, at the beginning of 2024. It comprises the Money Market and Foreign Exchange Trading, Asset Management, Banking Operations and IT divisions as well as the Singapore branch.

©Keystone/SDA

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